Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018
Allianz misses squeeze-out threshold in Euler Hermes tender
- 14 February 2018
Allianz has raised its stake in trade credit insurer Euler Hermes to 92.43 percent, below the level required to squeeze out the remaining investors in the Paris-listed company.
The German carrier pumped EUR1.5bn ($1.85bn) into Euler Hermes stock, acquiring an additional 29.43 percent stake through a just-closed tender as well as share purchases on the market.
It started the process in November with a 63 percent holding in the French company.
French law requires a purchaser to hold 95 percent...
- If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership
- Login Free trial